Latest Pompey statement...

Pompey have issued a statement on The Pompey Site is reaction to reports that administration, or worse, could be on the cards for the club.

It says the board are 'disappointed' at recent 'media speculation' and administration WOULD have happened by now if that was going to be the case.

For more info read the statement below...

PLAY UP POMPEY!

PFC Statement

The owner and board of Portsmouth Football Club are disappointed at recent inaccurate media speculation regarding the club's finances and the threat of administration.

Ali Al Faraj and his associates took over the running of the club and inherited a business that had substantial debts. Dealing with the finances has been the priority since Al Faraj came in to pay the players before taking over the club from Sulaiman Al Fahim.

The club is not going into administration. If that were the case it would have happened at the end of September or early October. This week alone, HM Revenue and Customs were paid £2m and other historical arrears are being dealt with on an ongoing basis.

The new owner has not had the benefit of TV revenue to aid the club, with the next major installment due in January. However, he and his associates have already invested substantial funds to keep the club operating and will continue to do so.

The owner remains committed to the club and has shown that through his investment to date. He will also provide manager Avram Grant with all the tools he needs to ensure the club reaches a position the players' performances deserve - away from the relegation zone.

Despite media rumours Peter Storrie remains chief executive and has been holding talks on behalf of the club in other parts of the world.

Much is happening behind the scenes but constant malicious rumours and speculation do not assist with the proposed major long-term funding that is currently being put in place.

Finally, we would like to place on record our thanks for the unwavering support shown by our very loyal fans.

Some of the posters on other Pompey boards aren't doing the club any favors either
1.The whole Administration thing was started by a couple of posters, claiming to be 'ITK' with an 'alleged' e-mail. These posters were the 'Pompey Source' that the Telegraph/Express used.
2.The claims that police were not being paid and the whole accounting department was being laid off was started by a known Southampton fan on a Pompey board

Most of the press reports I have seen say that we are now 60 million in debt (including 33 million to Gaydamak to be paid by end January), we have failed to pay players on time, our sky monies are to be 'confiscated' to pay monies owed for Debts of £8 million still due to Chelsea and French club Rennes ( as we have fallen behind in payments on the transfers of Glen Johnson and John Utaka) if we do not pay soon, we owe agents fees from 2007, we owe Watford for Williamson and Smith and must pay soon, we have a ban on signing new players until debts are cleared and we have 2 weeks to do it in (before the January transfer window), we need to SPEND on several (maybe 5) proven players to keep us in the premiership..
It is nice? to know there is NO possibility of administration and any speculation is false!! hmm..because we have the bases covered and we are going to be signing players and staying in the premier league (according to the official site) which will add several million to our 60 million debt!! - and we haven't even found an investor from overseas yet!!
I haven't seen direct headline references about us going into administration, in the press, but who in their right mind would think all is rosy if we are struggling to pay debts, wages and have been banned from signing new players, the club is having to go round the world to try and borrow, without thinking administration was on the cards?

i WANT to believe the club when they make these statements but it becomes increasingly hard to do so as they have been known to 'bend the truth' with plenty of statements in recent months - the best way to prove that things will be ok is i guess when the premier league make some form of comment saying things are sorted? i would imagine if we say things are ok and they are not they will soon say so...the official site needs looking at tho as this statement only seems to work if you view it through the 'home' section, going through 'news' or being linked to it via 'newsnow' does not seem to work, so this is making people fear that it has been 'retracted' when it has not...

I've just read comments re the statement on various message boards and it beggars belief that so many people shout and scream that 'THEY WANT TO HEAR FROM THE CLUB' and when they do they say 'I DON'T BELIEVE A WORD OF IT!" ... I'm not targeting anybody in particular nor any specific forum either but as Pompey fans we have now had the statement from the club we having been waiting for.. It sounds positive.... 'PLEASE, (whatever you believe has or has not happened in the past) let's accept it and move on .. Ignore the journos in the tabloids - why would they know better ? - OUR CLUB has spoken.. let's believe what we have read (above) and get on with doing what we do best .. Supporting the best club in the world - PTID

looks bleak to me...in a crisis the weak die, we are weak, have been for years and years. people forget we have nearly died as a club so many times since the 70's onward...the club is, and has been badly run whether it was collet,Deacon,Gregory, Mandaric ( probably the best of the bunch) Gaydamak. al Fahim, or "The Mirage". Maybe this time it really is the end....

i hear what you are saying Chix but HOW MANY times have we heard things from the club recently, only for this not to be how it actually turns out - i DO want to believe, and i am not saying it is not 'true' i have just become very cynical and become much more guarded as my faith has often been misplaced, as i have always accepted what the club tell me as being the truth - but since we have denied things in the past and then gone back on it i find it harder to do so...like i have said on various areas on this site i HOPE that what the club say they are working to behind the scenes is actually happening, and those that 'run' the club are working as hard as they can to sort out the mess others have left, i really, really want that to be the case but i do not want to be taken in like i have previously...

Makes me wonder who has issued the statement on the site...
Very happy to know from the club that WE ARE NOT GOING INTO ADMINISTRATION...
But we are still banned from signing players (and were told that would be settled last month).. only 2 anda bit weeks to see if the ban is lifted and we find investors....then I might start to believe...